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19 Mar 2021

Scottish Mortgage Investment Trust

Company Notes

James Anderson to retire in April 2022

This morning Scottish Mortgage Investment Trust announced that it had been notified that James Anderson would retire from the Baillie Gifford partnership on 30 April 2022 and so will step down as the fund’s joint portfolio manager on that date. James joined Baillie Gifford in 1983 and became a partner four years later. He has been the fund’s portfolio manager since 2000 and joint portfolio manager with Tom Slater since 2015. Tom will continue as lead manager when James retires and Lawrence Burns, who is also a partner at Baillie Gifford, will become deputy portfolio manager, with immediate effect.

James Anderson will also be nominated to stand for non-executive chairman of Kinnevik AB, a Swedish investment company that is a longstanding holding in Scottish Mortgage’s portfolio (0.8% as at 31 January 2021). If appointed, James will recuse himself from any investment discussions and decisions about the fund’s holding in Kinnevik and its underlying investments while he remains joint portfolio manager.